QTPI vs. PGF
QTPI (North Square RCIM Tax-Advantaged Preferred and Income Securities ETF) and PGF (Invesco Financial Preferred ETF) are both Preferred Stock/Convertible Bonds funds. QTPI is actively managed, while PGF is passively managed. Over the past year, QTPI returned 6.12% vs 4.11% for PGF. A 0.58 correlation means they provide meaningful diversification when combined. QTPI charges 0.60%/yr vs 0.62%/yr for PGF.
Performance
QTPI vs. PGF - Performance Comparison
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Returns By Period
In the year-to-date period, QTPI achieves a 1.16% return, which is significantly higher than PGF's -0.24% return.
QTPI
- 1D
- 0.31%
- 1M
- -0.02%
- YTD
- 1.16%
- 6M
- 1.94%
- 1Y
- 6.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGF
- 1D
- 0.07%
- 1M
- -1.36%
- YTD
- -0.24%
- 6M
- 0.55%
- 1Y
- 4.11%
- 3Y*
- 4.22%
- 5Y*
- -0.79%
- 10Y*
- 2.30%
QTPI vs. PGF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF | 1.16% | 7.37% | 0.34% |
PGF Invesco Financial Preferred ETF | -0.24% | 3.40% | -0.20% |
Correlation
The correlation between QTPI and PGF is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024 | 0.58 |
The correlation between QTPI and PGF has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
QTPI vs. PGF — Risk / Return Rank
QTPI
PGF
QTPI vs. PGF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) and Invesco Financial Preferred ETF (PGF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| QTPI | PGF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.11 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 0.88 | +2.03 |
| Martin ratioReturn relative to average drawdown | 11.96 | 1.86 | +10.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| QTPI | PGF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 0.66 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.07 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 0.15 | +1.09 |
Drawdowns
QTPI vs. PGF - Drawdown Comparison
The maximum QTPI drawdown since its inception was -4.08%, smaller than the maximum PGF drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for QTPI and PGF.
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Drawdown Indicators
| QTPI | PGF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.08% | -75.69% | +71.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.11% | -4.69% | +2.58% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.87% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.92% | — |
Current DrawdownCurrent decline from peak | -0.36% | -5.31% | +4.95% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -7.01% | +6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 2.21% | -1.70% |
Volatility
QTPI vs. PGF - Volatility Comparison
The current volatility for North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) is 1.39%, while Invesco Financial Preferred ETF (PGF) has a volatility of 1.47%. This indicates that QTPI experiences smaller price fluctuations and is considered to be less risky than PGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QTPI | PGF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.47% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 4.06% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 6.27% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.98% | 11.36% | -6.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.98% | 12.00% | -7.02% |
QTPI vs. PGF - Expense Ratio Comparison
QTPI has a 0.60% expense ratio, which is lower than PGF's 0.62% expense ratio.
Dividends
QTPI vs. PGF - Dividend Comparison
QTPI's dividend yield for the trailing twelve months is around 4.43%, less than PGF's 6.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGF Invesco Financial Preferred ETF | 6.32% | 6.30% | 6.24% | 6.15% | 5.95% | 4.68% | 4.91% | 5.14% | 5.73% | 5.32% | 5.92% | 5.68% |
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF | 4.43% | 4.58% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QTPI and PGF have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGF has higher volatility (1.47%) compared to QTPI (1.39%). In terms of maximum drawdown, QTPI dropped -4.08% vs PGF's -75.69%.
On 1-year performance, QTPI leads with 6.12% vs 4.11% for PGF. On fees, QTPI is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, QTPI has performed better with a 6.12% return vs 4.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QTPI is cheaper with a 0.60% expense ratio, compared with 0.62% for PGF.
PGF has the higher dividend yield at 6.32%, compared with 4.43% for QTPI.
They also come from different issuers: North Square and Invesco. Their fees differ too: 0.60% for QTPI and 0.62% for PGF.
QTPI currently has the higher Sharpe Ratio (1.50 vs 0.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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